Kids Storage Furniture Market Share, Size, Trends, Industry Analysis Report, By Type (wardrobes and Bookshelves); By Material; By Distribution Channel; By Region; Segment Forecast, 2023 - 2032
- Published Date:Apr-2023
- Pages: 118
- Format: PDF
- Report ID: PM3166
- Base Year: 2022
- Historical Data: 2019-2021
Report Outlook
The global kids storage furniture market was valued at USD 32.71 billion in 2022 and is expected to grow at a CAGR of 5.41% during the forecast period. Population growth influences the demand for houses and remodeling of old houses. The two most populated nations in the world continue to be China (1.4 billion) and India (1.4 billion), both of which have populations of over 1 billion, or over 18% of the entire world's population. India is anticipated to surpass China as the world's most populated nation around 2023, while China's population is anticipated to fall by 48 million, or roughly 2.7%, between 2019 and 2050. This will further create a wide range of opportunities for the growth and demand for the kids storage furniture market throughout the forecast period.
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Instead of purchasing new homes, customers are increasingly choosing to engage in home remodeling and improvement projects due to rising property costs. As a result of increased property values, homeowner equity has doubled, indicating a trend of homeowners being wealthier and more likely to invest money in home improvement projects. According to the internet site, home remodeling Houzz, project leads for home specialists reported a 58% increase as of June 2020 compared to the same period in 2019.
Key manufacturers are also putting an emphasis on expanding their product lines through the introduction of a variety of new items. Officials from the government urged people to confine themselves to their homes as much as possible as the novel coronavirus started to spread. In response, schools began using a remote learning approach and closing for longer periods of time. As a result, people started to pay closer attention to the spaces in their homes, making sure there is enough room for the kids to play, study, etc. This created new opportunities for the use of children's furnishings. Manufacturers have been developing goods that contribute to the creation of an environment that is appropriate for studying, working, playing, sleeping, or resting, which has increased demand for products in the household market.
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Industry Dynamics
Growth Drivers
There are several factors that can drive the growth of the kids storage furniture market. Some of these include Increase in population, A growing population leads to more families with children, which in turn increases the demand for kids’ storage furniture. Urbanization also influences the market. As more people move to urban areas, the demand for smaller, more efficient living spaces increases, leading to a higher demand for kids' storage furniture that can be used to optimize limited space. Rising disposable income creates a wide range of opportunities in the market. As disposable income increases, parents are more likely to invest in furniture and storage solutions for their children's rooms. Increasing awareness of the importance of organization will further fuel the growth of the market. As people become more aware of the benefits of organization and storage, the demand for kids’ storage furniture increases.
Innovation and technology are expected to impact kids storage furniture, As Improvements in design and technology can lead to new and innovative kids storage furniture options becoming available, driving market growth. Growing demand for eco-friendly products will further create new opportunities for the growth of the market. As consumers become more environmentally conscious, the demand for kids storage furniture made from sustainable materials, such as wood, increases. Online and offline distribution channels will further propel the growth of kids storage furniture, As consumer preference shifts towards online purchase, the market for e-commerce kids storage furniture is also increasing.
Report Segmentation
The market is primarily segmented based on type, material, distribution channel and region.
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By Type |
By Material |
By Distribution Channel |
By Region |
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Bookshelves is expected to witness fastest growth during forecast period
Bookshelves can influence the growth of the market by providing a functional and decorative solution for storing and organizing children's books and toys. They can be designed in a variety of colors and styles to match the decor of a child's room, and can also be used to display other items such as artwork and collectibles. Additionally, bookshelves can be incorporated into other types of kids storage furniture, such as desks and dressers, to provide a cohesive and efficient storage solution for children's spaces.
Constricted areas boost the need for creative products, which will probably attract more consumers to acquire such things, stimulating business growth. Due to lower maintenance and repair costs, manual wardrobes are anticipated to acquire more popularity. Additionally, the desire to live a pleasant and opulent life has increased as a result of fast globalization and urbanization driving up the need for multifunctional wardrobes.
Wood segment is expected to witness significant growth during projected timeframe
Wood is a popular material for the kids storage furniture due to its durability, versatility, and natural aesthetic. It can be used to create a wide variety of furniture pieces, including bookshelves, dressers, desks, and toy chests. The natural warmth and grain of wood also makes it a great choice for children's rooms, as it can create a cozy and inviting atmosphere. Additionally, wood is a sustainable and renewable resource, which is becoming increasingly important as consumers become more environmentally conscious. Therefore, the use of wood in kids storage furniture can influence the growth of the market by providing a desirable and eco-friendly option for parents and consumers.
Offline Distribution channel is expected to hold the significant revenue share in 2022
Online distribution channel can influence the growth of the market by providing different options for consumers to purchase products. Online distribution channels, such as e-commerce websites and online marketplaces, offer consumers the convenience of browsing and purchasing products from the comfort of their own homes. Additionally, online retailers often have a wider selection of products and can offer lower prices than brick-and-mortar stores. This can increase accessibility to the market for consumers, especially in areas where brick-and-mortar stores may not be available.
On the other hand, offline distribution channels, such as brick-and-mortar furniture stores and department stores, provide consumers with the opportunity to see and test products in person before making a purchase. This can be especially important for larger items such as furniture, as consumers may want to ensure that the product will fit well in their space, and check the quality before purchasing. Both online and offline distribution channels can be beneficial for the growth of the market. Online channels can increase accessibility and price competitiveness, while offline channels can provide tactile experiences and trust building in the brand and product.
The demand in North America is expected to witness significant growth during projected timeframe
North America is expected to witness higher growth rate in coming years due to the existence of major product manufacturers. Increased consumer demand for personalized kids' furniture, and the recent increase in home renovation trends are the main drivers of regional market growth. Manufacturers have been developing goods that contribute to the creation of an environment that is appropriate for studying, working, playing, resting, or relaxing.
This has increased demand for children's furniture in the region's housing market. From 2023 to 2030, Asia Pacific is anticipated to have the fastest CAGR. Urban millennial parents between the ages of 28 and 40 spend a sizable portion of their discretionary income on high-quality furnishings and child storage. Additionally, it has been noted that the newborn and kid furniture industry has seen a recent rise in revenue.
Competitive Insights
Some of the major players operating in the global market include Williams Sonoma, Million Dollar Baby, Wayfair, Blu Dot, FirstCry, KidKraft, Sorelle Furniture, Circu Magical Furniture, Crate & Barrel and Casa Kids.
Recent Developments
- In January 2023, West Elm, partnered with Misha & Puff. With prices ranging from USD 34 to USD 799, the Misha & Puff for the “West Elm Kids line”, which offers a carefully curated selection of furnishings, accessories, & textiles.
- In October 2022, GlobalBees Brands was acquired by the andMe, a company backed by Matrix Partners. This Thrasio-style venture aggregates and invests in e-commerce brands. According to GlobalBees, the acquisition signifies its foray into the femtech market. andMe, a service run by the Bengaluru-based Merhaki Food and Nutrition Pvt. Ltd, was introduced in September 2017 by Ankur Goyal, a graduate of the IIT-Delhi. Matrix Partners and Sauce.vc had previously provided money to the startup.
Kids Storage Furniture Market Report Scope
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Report Attributes |
Details |
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Market size value in 2023 |
USD 34.32 billion |
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Revenue forecast in 2032 |
USD 55.13 billion |
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CAGR |
5.41% from 2023 - 2032 |
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Base year |
2022 |
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Historical data |
2019 - 2022 |
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Forecast period |
2023 - 2032 |
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Quantitative units |
Revenue in USD billion and CAGR from 2023 to 2032 |
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Segments covered |
By Type, By Material, By Distribution Channel, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America; Middle East & Africa |
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Key companies |
Williams Sonoma, Million Dollar Baby, Wayfair, Blu Dot, FirstCry, KidKraft, Sorelle Furniture, Circu Magical Furniture, Crate & Barrel and Casa Kids. |
FAQ's
The kids storage furniture market report covering key segments are type, material, distribution channel and region.
Kids Storage Furniture Market Size Worth $55.13 Billion by 2032.
The global kids storage furniture market expected to grow at a CAGR of 5.41% during the forecast period.
North America is leading the global market.
Key driving factors in kids storage furniture market are rising population leads to more families with children and growing demand for eco-friendly products.
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